Commonwealth Fusion Systems, a start-up spun off from the Massachusetts Institute of Technology, plans to build its first fusion power plant in Virginia. The facility, expected to generate zero-emissions electricity, is scheduled to be completed in the early 2030s. Located in an industrial park near Richmond, the plant will provide electricity to paying customers, though no deals have been signed yet.
The company aims to harness nuclear fusion, the process that powers the sun, to produce power commercially. Fusion reactors could generate abundant electricity without releasing carbon dioxide and pose no risk of large-scale nuclear accidents. However, bringing this concept out of the lab and onto the grid has proven challenging.
Commonwealth is the best-funded start-up among those pursuing fusion technology, with over $2 billion in investments from notable backers like Bill Gates, Google, and Eni. The company will build a pilot machine in Massachusetts to demonstrate its technology by 2027.
To move forward, Commonwealth needs to secure regulatory approval and work with local power customers to design the plant for optimal performance. The proposed plant would have a peak capacity of 400 megawatts, enough energy to power about 150,000 homes. While the electricity will likely go to large industrial customers, Dominion Energy, the leasing partner, has expressed interest in providing reliability and carbon-free power to its growing customer base.
Other companies, including Helion Energy, are also working towards commercializing fusion technology by the 2030s. The development of fusion power plants faces significant scientific and engineering challenges but holds promise for a sustainable energy future.
Source: https://www.nytimes.com/2024/12/17/climate/commonwealth-fusion-power-plant.html